How long does it take for items to show up on my credit report?

June 30, 2024 No Comments

A: Normal information, such as a paid or unpaid notation, usually hits a credit report within 30 days of the close of the billing cycle for that account. According to Experian, one of the “big three” credit bureaus, creditors and lenders usually report to a

How long should you hold on to credit card statements?

June 30, 2024 No Comments

A: The question of how long to keep credit card statements depends on the content, but the time period generally ranges from 45 days to seven years. Small, “Normal” Purchases If there are only small, “normal” personal purchases, keeping the credit card statement for about

How often does Credit Karma update? (EFX, TRU)

June 30, 2024 No Comments

A: Credit Karma is a web platform that offers credit and financial management tools to consumers for free. The Fair Credit Reporting Act (FCRA) allows you to get a free credit report every 12 months from each of the three national credit bureaus, Equifax Inc.

How The 2008 Housing Crash Affected The American Dream

June 30, 2024 No Comments

A: The Great Recession and the ensuing housing collapse in 2008 damaged the so-called “American Dream.” In many ways, the American Dream is a self-fulfilling prophecy, in that it creates optimism that the future will be brighter than today; that people — regardless of their

How do construction loans work?

June 30, 2024 No Comments

A: Construction loans to build new homes are either obtained by the prospective owner of the home or the actual homebuilder. It is important to be clear which party is securing the loan, as small-sized homebuilders may have difficultly because of capital constraints. How Do Construction Loans Work?

How will debt settlement affect my credit score?

June 30, 2024 No Comments

A: In general, debt settlement typically has a negative impact on your credit score. The exact impact depends on a multitude of factors: the current condition of your credit, the reporting practices of your creditors, the size of the debts being settled, whether or not

How do mortgage lenders check and verify bank statements?

June 30, 2024 No Comments

A: In some cases, your lender might call your bank to verify your bank account and statements. Most lenders, however, fill out verification of deposit (VOD) request forms and send them to your bank to verify your account. Many banks provide downloadable VOD forms for

Is it a good idea to take out a loan to invest?

June 30, 2024 No Comments

A: The only time it makes sense to borrow money for an investment – known in financial lingo as “invest a loan” – is when the return on investment of the loan is high and the risk level of the investment is low. It is inadvisable

How do mortgage lenders verify employment?

June 30, 2024 No Comments

A: Mortgage lenders usually verify your employment by contacting your employer directly and by reviewing recent income documentation. The borrower must sign a form authorizing an employer to release employment and/or income information to a prospective lender. At that point, the lender typically calls your

How do NetSpend cards work?

June 30, 2024 No Comments

A: NetSpend prepaid MasterCard and Visa cards are popular prepaid debit cards requiring no minimum balance and no credit check. All transactions made using NetSpend cards are insured by the Federal Deposit Insurance Corporation (FDIC) up to the current coverage limit, and the cards can

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